ELS25: Fundamentals of College and Nonprofit Endowments
Recorded On: 02/18/2025
- Registration Closed
Even among those with years of higher education experience, endowments and how they work can be challenging to describe. Experts will explain the legal and governing structure of endowment funds and how they are managed to provide colleges, universities, and other nonprofit organizations with a steady and reliable source of funding over the long term. This session explores the basic structure of endowments and covers how they are managed to support current operations without shortchanging the future.
Learning Objectives
After this webinar, you will be able to—
- Describe the importance of endowment funds for scholarships, faculty, research, public service, and campus infrastructure
- Recognize the long-term objectives of investment practices and policies
- Identify pros and cons of in-house versus outsourced investment management
- Explore current issues impacting endowments such as socially conscious investing
Recording
This webinar will be recorded. Registrants will receive an email when the recording is available.
Sponsor
This webinar in the 2025 Endowment Leadership Series is generously supported by this Premier Sponsor:
CPE Available: 1 Credit in Specialized Knowledge
Each individual must register and attend separately to earn credit.
NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org
Event Information
- Level: Intermediate
- Prerequisites: Minimum 1-2 years of experience as a professional in higher education or a related private industry.
- Advanced Preparation: None
- Delivery Mode: Group internet based
- Field of Study: Specialized Knowledge
- Length: 60 minutes
Steps to Earn CPE Credit
You can only earn credit for attending the session live. CPE credit cannot be earned for watching the recordings.
To earn CPE credit, you will complete the following tasks under the Content tab, after the session has ended:
- Pass the CPE codeword quiz. Write down the codewords posted in the Zoom chat at random times throughout the session and complete the quiz at the end of the session.
- Submit the CPE check-out code displayed at the end of the session.
- Download your CPE certificate.
You have until 5 pm Eastern Time on February 19, 2025, to complete these three steps or report technology issues with this site to online@nacubo.org.
For more detailed instructions, review the CPE Instructions page.
William Jarvis
Managing Director and Philanthropic Executive
Bank of America
William Jarvis is managing director and philanthropic executive at Bank of America Private Bank, where he heads strategic-thought leadership for institutional and private nonprofit organizations. An authority on investment policy and governance for endowed nonprofit organizations, Jarvis brings 41 years of experience to this role. Jarvis is the managing editor of the Bank of America Study of Philanthropy and the author of numerous white papers on investment policy and endowment governance.
Prior to joining Bank of America in 2017, Jarvis served as the executive director of the Commonfund Institute. In 2021, Jarvis was honored with NACUBO’s Rodney H. Adams Endowment Management Award for outstanding individual contributions to professional development activities in the area of college and university endowment and investment management.
Jarvis holds a B.A. in English literature from Yale University, a J.D. from the Northwestern University School of Law, and an M.B.A. from the J.L. Kellogg Graduate School of Management. Jarvis does not provide legal advice in his role at Bank of America.
Liz Clark
Vice President, Policy and Research
NACUBO
Liz LaPolt Clark is vice president for policy and research at NACUBO and a member of the NACUBO executive leadership group. She has been widely quoted in the press and is a sought-after speaker on how Washington politics and federal policies impact higher education. Clark got her start on Capitol Hill opening Cornell University's first Washington, DC-based federal relations office. Also in her career, she has led federal affairs for the State University of New York (SUNY) System and for Oregon State University. At NACUBO, she heads the team responsible for analysis of federal regulatory and legislative actions, research, and communications.
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LockedCommonfund Institute is among the nation’s most trusted sources for relevant, useful, and proprietary data, analytics, and best practices in financial management. The Institute provides a wide variety of resources, including conferences, seminars, roundtables, and online learning through Commonfund Institute Online. Insights cover topics such as endowments and governance; proprietary and third-party research such as the Commonfund Benchmark Studies®; publications including the Commonfund Higher Education Price Index® (HEPI); and events such as the annual Commonfund Forum and Investment Stewardship Academy. For more information, visit www.commonfund.org.
Contacts
George Suttles, Executive Director | George.Suttles@commonfund.org | 646-348-9248
Allison Kaspriske, Director | Allison.Kaspriske@commonfund.org | 203-563-5021
Resources
Bank of America has been a leading investment advisor to endowments and foundations for over 160 years. With more than $65 billion under management, our dedicated team of approximately 200 professionals located in offices throughout the United States supports your mission with a comprehensive suite of fiduciary services, including–
Tailored investment services – We build customized investment programs designed to serve as an extension of your staff, supporting your institution’s spending needs. We take into account your income objectives, risk tolerance and liquidity requirements while observing the highest standards of fiduciary responsibility. Investment decisions are made using a total portfolio approach in which the objective is not simply to outperform benchmarks but to help meet a broad spectrum of goals for your institution.
Consulting and advisory support – Fulfilling your institution’s mission goes beyond a successful investment program. Our specialists provide assistance with other important matters that are essential in helping you to meet your goals —governance, Board education and assessment, and fundraising strategies, among others.
Administrative support – We help you to optimize your staff resources and ensure compliance with regulatory requirements by establishing operational protocols and developing and implementing policies and procedures to improve your institution’s administrative efficiency.
Contacts:
Bill Jarvis, Managing Director, Philanthropic Strategy & Delivery Executive, william_jarvis@bofa.com
Bernie Reidy, Managing Director, National Endowment and Foundations Executive, bernard.reidy@bofa.com
Resources
We help higher education institutions, including universities, colleges, and foundations, invest for change. Our research, advice, and customized investment solutions aim to help you achieve your investment outcomes while helping to advance your mission. Our services are flexible and tailored to meet the unique needs of your institution. Visit us online to learn more.
Resources
Higher education: Evolving and advancing through the sector’s challenges – In our two-part series, we explore the complex challenges higher education institutions are currently facing and provide actionable insights to help navigate this evolving landscape.
Top considerations for endowments and foundations 2025 – In this paper, we address four top considerations that E&Fs should keep in mind heading into the new year.
Swing state: investment themes and opportunities in 2025 and beyond – Through the course of this paper, we outline some of the key themes and opportunities we see over the next five years and beyond.
Optimizing operating cash: Effective liquidity management for Endowments & Foundations – We delve into the strategies for managing liquidity to ensure that your organization can meet its operational needs while maximizing potential investment opportunities.
Thoughts about rainy day funds (emergency reserves) – Many E&F’s experienced severe disruptions during the COVID pandemic and their reserves helped keep them afloat until government relief programs kicked in. Explore how we encourage E&Fs to react.
2025 Endowment & Foundation Quarterly Update – Each session will delve into the latest market trends, industry updates, and important topics that impact E&Fs, aiming to ensure you stay informed and prepared for the evolving environment.
Contact
Texas Hemmaplardh, U.S. Endowment & Foundation Leader, 212.345.0713, texas.hammaplardh@mercer.com
Fidelity Institutional offers institutional investors—including endowments, foundations, and retirement plan sponsors,—access to firsthand market knowledge and investment insights from one of the world’s largest proprietary investment research organizations. We also offer a broad and deep set of institutional investment management capabilities across global equities, fixed income, multi-asset class, high income, and alternatives. Visit i.fidelity.com/nonprofits rel="nofollow noopener noreferrer"> to learn more.
Contacts:
Danielle Frissell, Senior Vice President, Business Development, Danielle.Frissell@fmr.com
Eric Lussen, Senior Vice President, Business Development, Eric.Lussen@fmr.com
Resources
John W. Bristol & Co., Inc. (“JWB”) is a privately owned, independent investment adviser established in 1937 to advise college and university endowment funds and we have been helping clients in the educational field fulfill their missions for the better part of nine decades.
The firm manages equity, fixed income, and balanced accounts totaling approximately $6.7 billion for 108 clients as of December 31, 2024.Based on the NACUBO NSCEE study, our 10-year balanced account results rank in the top quartile of college endowment results for 2024 and have ranked in the top quartile on a 10-year basis for the past 10 years. This top-tier performance begins before your freshman class was born.
Our time-tested process has delivered equity returns superior to the S&P 500 over the past 10 years as well.
Endowments seeking to move into the top quartile should contact us to learn more.
Contact:
Benjamin M. Williams, Managing Director, Client Development, contact@jwbristol.com
Resources
Established in 1988, Prime Buchholz has a long history of serving higher education as an investment advisor/OCIO. Founded by two university CFOs, educational institutions represent approximately one-third of our 250 clients. We have a deep-rooted understanding of the unique financial needs of colleges and universities—our lasting client relationships highlight our ability to cater to their specific needs. Our proprietary analytics platform, PrimePlus®, automates data workflows, integrates multiple sources, and delivers real-time investment insights to endowments.
Contact:
Adam Leech, adam.leech@primebuchholz.com, 207.216.7483
